President Joe Biden administration is planning to impose new sanctions on Russian oligarchs and members of their families in a latest attempt to squeeze President Vladimir Putin as the military operation of Ukraine advances.

The sanctions are expected to loosely follow a list of oligarchs sanctioned by the European Union earlier this week, though won't be identical, one person said. A number of the same individuals will be sanctioned by the U.S.

The U.S. package, however, will be more expansive, including travel bans and targeting family members. Biden has already applied sanctions to a number of top Russians close to the Kremlin, along with their adult children.

The practice is meant to prevent individuals from funneling their assets toward relatives as a way to avoid sanctions.

Biden has vowed to go after the "ill-begotten gains" of Russian oligarchs, including their private jets, luxury apartments and yachts. The Justice Department announced a task force Wednesday comprised of various U.S. law enforcement agencies designed to enforce sanctions against oligarchs, calling the initiative "Kleptocapture."

Biden was scheduled to assemble his Cabinet for a meeting Thursday afternoon as Russia's military operation in Ukraine enters its second week and most of his administration is involved in the U.S. response.

(With input from agencies)